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from methanol, in turn made from gas or coal. This investment of โฌ45 M will involve testing over 5 years using a process developed by UOP and Norsk Hydro. ExxonMobil has a similar pilot plant and a number of patents. Air Liquide has this type of technology. BASF has announced progress on catalysts for a syngas-toolefin unit in Ludwigshafen, Germany, using the Fischer-Tropsch process. This is not expected to be commercialised before 2016. The most significant market is expected to be China, which has important reserves of coal but which has not signed the Kyoto protocol for reducing emissions. The leading Chinese coal producer, Shenhua, started work in 2005 on these projects. Similar moves are being made by Huating Coal Group, Sinopec, and Daqing Petrochemical. There are about 15 projects in China which could be commercialised in 3-5 years.
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In view of the economic environment, Novozymes considers its current 2009 growth outlook satisfactory. The slowdown in 4Q 2008 is not considered a reliable indicator of 2009 full-year performance. Sales growth is forecast at 8-13% (in terms of DKR), and operating profit is expected to grow by 10-15%